Central Bank & Trust Co. Acquires New Position in GE Vernova Inc. $GEV

Key Points

• Central Bank & Trust Co. invested approximately $220,000 in GE Vernova Inc. by buying 416 shares during the 2nd quarter.
• Several hedge funds and institutional investors have also increased their stakes in GE Vernova, reflecting growing interest in the company.
• Wall Street analysts have exhibited optimism for GE Vernova, with multiple firms raising price targets and upgrading the stock rating to "strong buy" or "outperform."

Central Bank & Trust Co. acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 416 shares of the company's stock, valued at approximately $220,000.

Several other large investors have also bought and sold shares of the business. Atlas Brown Inc. grew its stake in shares of GE Vernova by 0.8% during the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock worth $1,321,000 after buying an additional 19 shares during the last quarter. Westover Capital Advisors LLC increased its stake in shares of GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after buying an additional 25 shares during the period. SVB Wealth LLC increased its stake in shares of GE Vernova by 0.7% in the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock valued at $1,094,000 after buying an additional 26 shares during the period. Stonebridge Financial Group LLC boosted its holdings in GE Vernova by 8.9% in the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock valued at $105,000 after acquiring an additional 28 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in GE Vernova by 0.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock valued at $2,598,000 after acquiring an additional 30 shares during the last quarter.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent analyst reports. Melius Research set a $740.00 price target on shares of GE Vernova and gave the stock a "buy" rating in a research report on Monday, September 15th. Robert W. Baird lifted their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Susquehanna increased their price target on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. BMO Capital Markets increased their price target on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $592.35.

GE Vernova Trading Up 2.2%

GEV stock traded up $13.61 during trading on Friday, reaching $624.61. 4,104,917 shares of the stock were exchanged, compared to its average volume of 2,689,348. The firm has a market cap of $170.03 billion, a P/E ratio of 150.51, a price-to-earnings-growth ratio of 4.45 and a beta of 1.87. GE Vernova Inc. has a twelve month low of $242.25 and a twelve month high of $677.29. The firm's 50 day moving average is $617.11 and its 200 day moving average is $477.34.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the company posted $4.65 earnings per share. The company's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. GE Vernova's dividend payout ratio is presently 24.10%.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.